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Former Deutsche Bank trader Christian Bittar has rate-rigging conviction overturned
Overview
The Court of Appeal has quashed the conviction of Christian Bittar, a former Deutsche Bank trader who was imprisoned in 2018 for manipulating the Euribor benchmark interest rate. Bittar's successful appeal follows similar decisions overturning the convictions of other ex-bankers, leaving only one former trader still convicted in relation to the financial crisis rate-rigging scandal.
Key points
- The Court of Appeal quashed the conviction of former Deutsche Bank trader Christian Bittar.
- Bittar was originally jailed in 2018 for manipulating the Euribor benchmark interest rate.
- The decision follows recent UK court rulings overturning the convictions of several other ex-Barclays and City traders.
- Out of 19 City traders initially convicted in the US and UK, 18 have now been acquitted.
- Only one former trader, Peter Johnson, remains convicted and has applied to appeal.